Move fast, move in or lease out Penrose offices
A modern office floor in the Auckland suburb of Penrose is being presented to the market with vacant possession.
101C Station Rd has 583sq m of floor space and the stratum in freehold property is zoned Business–Light Industry under the Auckland Unitary Plan.
Given the property is currently vacant, the new owner could make immediate plans for the office floor and set up operations quickly.
Alternatively, investors will see the appeal of the property and may look to lease it out given Penrose’s reputation as a key commercial and industrial hub in Auckland that is home to a number of prominent firms.
Market estimates from Colliers suggest the floorspace could be leased for approximately $167,000 plus GST and operating expenses annually.
The property comes with 17 dedicated carparks providing convenience for occupants, while the Penrose train station is in walking distance and several bus routes
service the area. Great South Rd is only moments away and the motorway network is easily reached.
Colliers brokers Logan Roach, James
Dickey and Jimmy O’Brien are marketing the property for sale via deadline private treaty closing 4pm, Tuesday March 26, unless sold prior.
The property has a mixture of open spaces and separate meeting rooms and offices. It sits on the second floor of a threestorey building.
Roach says the property is an appealing and well-presented offering.
“The office space is highly functional and the ability to secure it with vacant possession means the potential new owner could move quickly to begin trading,” Roach says. “Investors may view this as an ideal opportunity to acquire the asset and tenant it to make the most of the steady rental stream that could be realised through leasing it.”
The location holds appeal as it is highly accessible, and Auckland’s CBD is only 15 minutes away. Auckland Airport can be reached in a similar time.
With a range of amenities nearby, Mt Wellington and the Sylvia Park retail hub are only a short drive away. Onehunga, one of the city’s major industrial precincts, is close by, offering further connections to industrial and commercial businesses.
Dickey says Penrose is a desirable location for firms and is populated by a number of well-known operators.
“Government data also notes the Onehunga and Penrose catchment contributes 8 per cent of Auckland’s GDP, which is measured at approximately $4.6 billion a year,” Dickey says.
“The area has long been an important contributor to the growth and commercial development of Auckland.”
O’Brien says the combination of being able to acquire a property with vacant possession in a sought-after commercial location makes for an enticing purchasing opportunity.
“This modern and functional office floor will generate strong interest across owneroccupiers and investors,” O’Brien says.